Freehold coffee shop at Jalan Besar up for sale at $28 mil
Sophia Lim, associate director, financial investment sales & funding markets at Savills Singapore, checks out the coffee bar unit as an engaging possibility given the uncommon accessibility of such real properties on Jalan Besar. “Freehold coffeehouse units have long been considered as generational assets as well as are typically snugly held,” she includes.
The commercial property, which is zoned for retail use, has an overall strata floor area of 4,510 sq ft. Both levels of the property have F&B authorizations. The ground floor currently consists of six food stalls as well as one beverage stall. The upper flooring can be accessed using an interior staircase from the ground floor or from an external escalator.
A two-storey property cafe unit established at Hoa Nam Building along Foch Roadway in the Jalan Besar area is up for sale through an expression of interest exercise. Accordingly to advertising representative Savills Singapore, the real estate gets on the marketplace with an overview price of $28 million.
Hoa Nam Establishment is a mixed-use structure comprising residential, office as well as retail units. It is within strolling range to Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Station on the North East Line.
Coffeehouse in the Jalan Besar precinct are anticipated to take advantage of the buoyant F&B sentiment coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the neighboring Kallang-Whampoa estate are also anticipated to enhance Jalan Besar’s captive catchment.
The expression of interest exercise for the property is going to close on Sept 21 at 3pm.
“With the recent purchases of HDB leasehold coffee bar at record rates, this possession gives a rare possibility to acquire a freehold coffee shop enjoying popular frontage and visibility within the fast-evolving place of Jalan Besar,” Lim states.
The building delights in 40m frontage along Jalan Besar, as well as can additionally be accessed from Foch Roadway. The present proprietor has actually additionally gotten confirmation from the MCST to place signing boards on the building’s facade.